THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION, TRADE OPENNESS AND ECONOMIC GROWTH: THE CASE OF BOSNIA AND HERZEGOVINA
The paper examines the renewable energy con-sumption-trade openness-economic growth ne-xus for Bosnia and Herzegovina using annual time series data covering the period of 1994-2015. The variables in the analysis were checked using Augmented Dickey Fuller test statistics. The results obtained indica...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Faculty of Economics, University of Tuzla
2020-05-01
|
| Series: | Economic Review |
| Subjects: | |
| Online Access: | http://er.ef.untz.ba/index.php/er/article/view/60 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1823861264690970624 |
|---|---|
| author | Yilmaz Onur Ari |
| author_facet | Yilmaz Onur Ari |
| author_sort | Yilmaz Onur Ari |
| collection | DOAJ |
| description |
The paper examines the renewable energy con-sumption-trade openness-economic growth ne-xus for Bosnia and Herzegovina using annual time series data covering the period of 1994-2015. The variables in the analysis were checked using Augmented Dickey Fuller test statistics. The results obtained indicated that economic growth became stationary at level while rene-wable energy consumption and trade openness variables became stationary at first difference. According to Todo-Yamamoto Causality Test results, there is a unidirectional causality from renewable energy consumption to economic growth at 5 % in the long run. This finding is in line with the growth theory which remarks unidirectional/one-way causality from renewa-ble energy consumption to economic growth. In this case, renewable energy dependent conser-vation policy may have prohibitive effect on economic growth. The study also concluded that there is no association between trade openness and economic growth. Thus, the finding su-pports the neo-classical growth theory. Besides, there is a causality from renewable energy co-nsumption to trade openness, so the conser-vation policies will affect the trade and trade liberalization policies designed to promote eco-nomic growth.
|
| format | Article |
| id | doaj-art-7f77c90eab03430c8398063d9d249760 |
| institution | Kabale University |
| issn | 1512-8962 2303-680X |
| language | English |
| publishDate | 2020-05-01 |
| publisher | Faculty of Economics, University of Tuzla |
| record_format | Article |
| series | Economic Review |
| spelling | doaj-art-7f77c90eab03430c8398063d9d2497602025-02-10T00:30:56ZengFaculty of Economics, University of TuzlaEconomic Review1512-89622303-680X2020-05-01181THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION, TRADE OPENNESS AND ECONOMIC GROWTH: THE CASE OF BOSNIA AND HERZEGOVINA Yilmaz Onur Ari0Bayburt University, Turkey The paper examines the renewable energy con-sumption-trade openness-economic growth ne-xus for Bosnia and Herzegovina using annual time series data covering the period of 1994-2015. The variables in the analysis were checked using Augmented Dickey Fuller test statistics. The results obtained indicated that economic growth became stationary at level while rene-wable energy consumption and trade openness variables became stationary at first difference. According to Todo-Yamamoto Causality Test results, there is a unidirectional causality from renewable energy consumption to economic growth at 5 % in the long run. This finding is in line with the growth theory which remarks unidirectional/one-way causality from renewa-ble energy consumption to economic growth. In this case, renewable energy dependent conser-vation policy may have prohibitive effect on economic growth. The study also concluded that there is no association between trade openness and economic growth. Thus, the finding su-pports the neo-classical growth theory. Besides, there is a causality from renewable energy co-nsumption to trade openness, so the conser-vation policies will affect the trade and trade liberalization policies designed to promote eco-nomic growth. http://er.ef.untz.ba/index.php/er/article/view/60renewable energy consumptiontrade opennesseconomic growthtime series analysisBosnian economy |
| spellingShingle | Yilmaz Onur Ari THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION, TRADE OPENNESS AND ECONOMIC GROWTH: THE CASE OF BOSNIA AND HERZEGOVINA Economic Review renewable energy consumption trade openness economic growth time series analysis Bosnian economy |
| title | THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION, TRADE OPENNESS AND ECONOMIC GROWTH: THE CASE OF BOSNIA AND HERZEGOVINA |
| title_full | THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION, TRADE OPENNESS AND ECONOMIC GROWTH: THE CASE OF BOSNIA AND HERZEGOVINA |
| title_fullStr | THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION, TRADE OPENNESS AND ECONOMIC GROWTH: THE CASE OF BOSNIA AND HERZEGOVINA |
| title_full_unstemmed | THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION, TRADE OPENNESS AND ECONOMIC GROWTH: THE CASE OF BOSNIA AND HERZEGOVINA |
| title_short | THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION, TRADE OPENNESS AND ECONOMIC GROWTH: THE CASE OF BOSNIA AND HERZEGOVINA |
| title_sort | relationship between renewable energy consumption trade openness and economic growth the case of bosnia and herzegovina |
| topic | renewable energy consumption trade openness economic growth time series analysis Bosnian economy |
| url | http://er.ef.untz.ba/index.php/er/article/view/60 |
| work_keys_str_mv | AT yilmazonurari therelationshipbetweenrenewableenergyconsumptiontradeopennessandeconomicgrowththecaseofbosniaandherzegovina AT yilmazonurari relationshipbetweenrenewableenergyconsumptiontradeopennessandeconomicgrowththecaseofbosniaandherzegovina |